What does Biden's withdrawal mean for the global financial markets?

USA current President Joe Biden announced that he will not seek re-election, and supports Vice President Kamala Harris as the Democratic candidate. This news was released at a critical moment less than four months before the November election, which may exacerbate the instability of Wall Street.

Zhitong Finance03:08 ET

Biden's Withdrawal Triggers Bitcoin Selloff and Rebound -- Market Talk

Bitcoin experienced a brief selloff and a rebound following President Biden's withdrawal from the U.S. presidential race, while the dollar is slightly weaker, Swissquote Bank senior analyst Ipek Ozkardeskaya says.

WSJ02:53 ET

Bitcoin, Ethereum Hold Steady, Dogecoin Spikes As Biden Bows Out Of Presidential Race: King Crypto Might Have A Chance To Reclaim $71.5K, Forecasts Analyst

Bitcoin and Ethereum consolidated, while Dogecoin rose as President Joe Biden announced his withdrawal from the 2024 presidential race.

Benzinga22:52 ET

Biden's withdrawal leads to bullish sentiment in the cryptocurrency market! Crypto may become the biggest winner of the "Trump trade".

If Trump takes office again, those bitcoin miners and crypto companies that have been blocked from listing in the US may become big winners in the digital asset field.

Zhitong Finance21:59 ET

NASDAQ is experiencing a major correction, where can you hide? The Dow Jones, gold, and US bonds are all falling, but bitcoin remains 'strong'.

Market style has changed due to factors such as improved prospects for Trump's campaign and increased expectations for interest rate cuts.

wallstreetcnJul 20 04:58 ET

Bitcoin Jumps Thanks to Trump, as Investors Weigh Democratic Ticket Change

Bitcoin's price jumped on Friday as crypto investors continued to be buoyed by Republican presidential front-runner Donald Trump's embrace of digital assets and digested reports that President Joe Biden could drop out of the White House race.

MarketWatchJul 19 20:11 ET